Help to buy ISA but am I first time buyer if I’ve had a mortgage before?

[cassiewoowoo]

I’ve had a mortgage before but had to sell up the house and close the mortgage when me and partner split. I’ve been privately renting since then.

All the blurb for these help to buy ISAs say first time before and you must not have owned a property before. It doesn’t seem clear cut as whether this means owning it outright or just having a mortgage.

Anyone know?

It means have you been named on the deeds of a property. Which if you had a mortgage you did. People say 'owned' even when they owe the bank 90%

www.helptobuy.gov.uk/documents/2015/12/eligibility-of-ftbs.pdf/

The declaration that you have to make is that "I do not own, and never have owned any interest in land, whether in the United Kingdom or elsewhere, which: is:
in England or Wales:
(a) freehold;
(b) leasehold, where the lease was originally granted for a term certain exceeding 21 years; or
(c) commonhold;"

(With equivalents for Scotland and N.I.)

If you have previously had a mortgage then would have owned "an interest in land" so you would not be eligible.

Ahh ok, thank you.

Sorry for crashing the thread, but what if you inherit a share in a house (but haven't actually changed ownership with Land Registry yet?

Think inheriting a share also makes you not a first time buyer.

trendingorange I’d imagine that would be classed as having an ‘interest’ in land and make you illegible too.